Final Volcker Rule Expands Muni Exemption

WASHINGTON — Several federal agencies on Tuesday approved a Volcker Rule that includes an expanded exemption for municipal securities, something market participants lobbied for after an earlier version of the rule failed to exempt certain types of muni debt from the rule's ban on proprietary trading.

The Securities and Exchange Commission and other federal agencies cooperated on the rule, which is mandated by the Dodd-Frank Act.

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